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<br /> -' ?. P�yr�ne»t ol/ndaDtednaat.Tiusror shaA promptly po y or cnuso ro bn pold whon duo tho Oblfgst/ana and v!!othnr indnbtndnnss. Thn f
<br /> ' �iu8fp►ShAI/elso pro�npity Artd/elth/u/ly obseive el/ollts ob/ipat/ons undnr ony o�hor dood o/tni9t anau�nber/np�/�ar pnrt o/tnn Tru9� �
<br /> Pi�pru��xi�d,tl�ppllcnbtn,any promisaory nofo,punronty,or o�hoi torm n/contivatunllndnbtndnnsa sacurad byaur.h arhni duorl n1 rnivt
<br /> whnMer jun/oror sonlo�ro tAo/lon o/thls Doad ol 7rus► ond any otho�nbllpoNonB socu�od bY o!/on on Mo Truat Piopn►t y,wh�rthn�nrrh�n��
<br /> ,Acanaenyt�0.7y or b y opomflpn o/%w.
<br /> �d
<br /> �3. CoslAtruatbn ol lmprovsmmM. Tiusto�almll comploto/n pnod ortd workmnnpko mnnnnr any bundlnpr�,impiov�mantn ni in��n�rn�olo��np
<br /> thn�ntn yvhl�Amny bn�iopun on Mp Tival Pioporty o�contnmpintod by fhn ODllpnf/ann sacur�d hnreby,to pny whnn d�m np r.nvtv nnd
<br /> IiAb�kqrs�nr:t�nad tham/or,ond not to pormlt ony eonatrucflon lion opn/nnt such�ivat Prpperty. ln thn ovanl cnnnNur.nan ol hredrGnpe,
<br /> I Imp�ovr;��nnte or rapn/rn arn contomp/ntod, liastor olao op►oos,pn ytAinp!n thla Dood o/Tniat ro tho contiory nnfwfthatnnrlinp;!n/ta
<br /> 1 (�prnmpNN cpmmnnco nny auch wark and to comploto tho proposod/mF/ovemonle p�omptty.!bl to compfrrto fho aomn�n nccordnncn w�th�hr�
<br /> �plona nnd t.ncclllcnnona as approvod by 8onellclory,(c/to comply wlth oll!ho torma ol o bu!ldinp/oon ogreomanr.1J ony,botwr.nn Tnistar
<br /> ' ond Rannlir.jArv. 1hn tnrma o/which eio Incorpareted hereln by io%renco ond medo d pnrl hereol, fdl to Mlnw BnnMicmry to mvp�N thn Auti I
<br /> � Pio eny at�ll Nmos dudnp eonstruct/on,and/e1 to iepfece eny work or motoNnfa un8ot/sloCtory to Bonohclary withln Lltoon/18/doyR nllor
<br /> , wrPton nonae Irom Bonol�a�a�y of such tact.
<br /> 7'
<br /> ° ' � 4. funda fo�Psyment oiCMrges.ll requasted at any tJme or Jrom tlme to t/me by the BeneJlclary,7rustor shell pay to Benaliciary on tho
<br /> •- lirat da y of each month,oi auch othei dete each month oa mey tra speeilled by Benel/clary,untll the Obllgarlona are pald/n/u/!,a aum
<br /> fhe�elna�tor tho"Funda"I equaf[o f/t2th of thB year/y texes end assesaments wh/cA may ettaln pdority over thla Deed o!Tivat end pround
<br /> renta on the lru�st P�oporry,Il any,p/us 1/121h oI the ygarly prom/um inatollments lor her8rd/nsuronse,plus 1/l2th ol the yeaNy premlum
<br /> , Inataf►monta/or mnrtgq�a tnamence,tJ eny,all ea reasonebly eadmatod/niNally end/rom t/me to dme b y BeneJlciary on the basis oJ .
<br /> assessmenMr and bnl�nnd�essoneble estlmates thereol. The Funds ahal/be he/d!n an InaUtutlon, the depnaita or accounts ol whJch ere
<br /> lnsured vr guarentapd bN a tederal or stete agency lno/udlnp Benel/clary. Ben�flclary ahall epply the RundA tA pay s !d taxes,essessments, �-
<br /> lnsuienae premluma and ground ients.Benef/clary sha//not be iequ/red to pey Tiustor eny lnterest or'eeYiiings on�e Funda.Beneliciary ahe// .;_:
<br /> givo to Tivstor,w/thnut cherge,an ennual ecco�nting of the Funda ahowing credits and deblts to the Funds and the puip oae lor whlch eech -'-
<br /> deblr to Me Fands was made.The Funds are pledged as addlt/ona/aecurlty/or the Ob!!getlons secured by thls Deed o/Trust./1 rhe amount -
<br /> of the Fundm hetd by BenaHclary,together wlth the Iuture monthly lnatal/menta ol Funds peyeble pdor to thn dae dates o!taxes,
<br /> • assessmenta,Insurenoe promiums and giound ients,shaQ exceed the amou�t�equlied to pe y sald taxes, assessments,lnsurence premlums �' '
<br /> • and ground ients as they/a//due,such excess shall be,et Tiusto►'s opNon,either promptty repaid to Tiustor ar credited to Trustor egeinat '.:r=:
<br /> /uture manthN insta//ments o!Funds.p the amount of the FuRds he/d by Bene/Ic1ary she//not be suNlclent to pay taxea,assessments, "="-
<br /> y insuranae premiui»a and ground ients as they/a//due, Trustor sha//pa y to BeneBclary eny emobnt necessary to make up the deliclency ��;��-
<br /> withln rhiKy days lrom the dete noNce!s malled by Beneflclery to Tivator requeaNn�psyment►hereo% Upor+peymenl!n!bN o/al/ -
<br /> _ . ___ ,._..1 Obliontlans. Bene1/ciary aha//prompNy refund to Tiustor any Funds held b y Beneflclery.H the Trest Property is so/d unde�the power of sale �"�•`
<br /> LL i 1 or the Tivat Propeity!s othenvlse acqulred by Beneticlary,Bene/lolary shall appry,lmmediate/y pdor to the sa/e o/the 7rust Piopeity or it� „••�.;
<br /> { aaqu/sltlon byBenellciery,any Fands held by BaAe11alary at the t/me o/epplicatJon as a credit against the Ob/lgations.H 8ene/iciary executes �--
<br /> a written waiver o/Tiustor's ob/lgations under thla Sectlon, Tiustor covenants and ag�ees to pay,be%re the same become delinquent,ell ;,,:��:1.�'=
<br /> � taxas,assessments,Insaienee premiums,g�ound ients,and a/l other charges whatsoever levled upon or essessed,placed or made against ,;;':.':•`:-
<br /> , tha Tiust Property. Tiuslor lurther agreas,uport wdtten iequest by Benetlolary,to prompt�dellvar to Benellclary a!/recelpts for the pe�menr •�`,;:;',�'.'
<br /> , " of such charges. Tiustor likew/se agrees to psy aU taxes,assesaments and other charges evled apon oi essessed,placed o�made against
<br /> ' "` or measu�ed by, thls Deed ol Tiust or the recordatlon heieo% '`��+`
<br /> . � --
<br /> , j S. App/IcsNan of payments.A//payments�eceived by BeneJlclary ea to eny debt/iab!lity or ob/1gallon owed t�Beneficiary by Tiusto�rrray -
<br /> bo apptied b y Beneficiary to Phe payment ol the ObNgat/ons!n eny order or manner o!app/lcatlon wAlch Beneilclary,ln Jts abso/ute d�acrerion_ �;:r
<br /> deems appro{Miate. __
<br /> :���� " G Cha�ges:Uena. Tiustor w;p keep the Tivat Propeity fiee fiom a//llena and enoumbrancea,whether pi1o�or 8ubnrdinate to Mis Deed ol --
<br /> ;,`.�,.;:,�;� .qc; Trust,otAer then the/!en ot cunent real eatete taxea and Insta//ments ot olpcia/essesaments wlth iespect to wAlch na penalty is yet �.��;•
<br /> � t �f peyeble;provl�ed,however,that Tiustor need not dlachaige eny such llen so/ong as Tivato�shal/agree,ln wrlNng,to pey the oA/igatlnn F �
<br /> .�::� seourod 6y such lien in e menner eccepreble to BenBiicrery e»d ahaN in good iairii conrest such lien by ap�ro��ate/egai�ceedings effiqcrrv�
<br /> ,.��,,,,' ro prevent the eniorcement o1 the llen ar the loss ol eny/ntorest!n or pait of the Tiust PiopBrty,and sha//elso glve auch reasonable secunty ��=
<br /> ; ro BenetJclary as may be demanded by Bene/lolary to/nsure compUance therewlM. The BeneNcJary may Jn its sole dJacretlon defend the lien �'�
<br /> •� o/thls Deed o/Tiast and e//coats and ettomeys'7ees lncuned by Beneflclary!n sa/d defenae shall be rermbursed by 7rustor or added to Me =__
<br /> � y . Obligatlona.
<br /> �t 7. Nazard/nwrw�me. Trostor shell kesp the bW/d/ngs and otherlmprovements now ex/stJng or hereaher erected on the Tiust Propeny
<br /> lnsuied b y/nsuranae caide�aotisJactory to Benetielary egelnst/osa b y/ire,hezarola!nc/uded/n the term extended coverege"and snch
<br /> +% other hesarda,casualNoa end contingenoles,lnGuding wei demege lnsuranee,es may be requlred by Benellclary,!n auch amounts and for ` -
<br /> � suoh perlods e�rrie y bo requlrod Ay Bene/le/ary. The pollcy ol/naurance ahe/I ba!n lom►ecceptab/e to Bene/Iclary and shall not contein e --
<br /> de%nse based on eolnsarence,end sha//contaln the standerd provlalon thet no act ot the Benel/c/ary�r of the Benellalary'a agents or -
<br /> roprasentetive�w/Jl iender the poJlcy vo/d as to the Beneficlary or aNect the BeneNaJary's dght to iecover!n cese ol/oss,end the polic y or
<br /> os/scpayeble�rovlslons In 1 voi ot a d%1�accoptab/e t Be reflelery.A/prem�uma on�n�e�nce po%Jc%s shall ba peld/n�the menneheve
<br /> ��, prov/ded un e�the Sectlon enUt/ed Funds/or Peyment ol Cherges'Aere/n o%11 not pald In aueh menner,b y Tiusto�making peymenr et
<br /> = Jeast/itteen /l6/deys pdor to the due dete,d/rect/y to the insurence caMer.BeneJiGery she//have the rlgAt to Ao/d the po//eles end renewe/s
<br /> rheieol end Trustor sAal!prnmptly lumish to Bene/rclary ell ienewal aoNees and e!/pa/d prem/um rece/pts recolved by!t.ln no event sha/l
<br /> 8ene/laJary or Tiustee be held iesponslble fo►/e!lure to pey/nsuronoe prem/ums or/or eny/oss or damaga aNsing out ol e de%t in any
<br /> paGay or arising out of any tal/u�e ol any/nsuronce company to pay lor any loss or damage lnsured agalnat or for/al/ure by Tiusror to etiect _
<br /> = the insuranae requlred hereunder./n the event of loss, TiusMr aAal/glve prompt notice by map to the/nsurance canJer and BeneNclary
<br /> . . �. B�neBOfary may make proof o//oss!f eot mado promptly or In pioper/onn by Tinstor.A/!pol/clea ot/ns�r�ance ond any and al/re/unds ol =
<br /> uneamedpreMums are hereLy assflrned to Banellelary es eddlNonel seeu�ity lor Me payment ol the Obiigallor►s.!n the event o/Benefiefery's _._-
<br /> •. � exorcisa ol rAe power o/se%contaTned hereln,orin the event o/Iorsc/osure,ell Ngh�tlt/e and/nterest ot Troator!n end to en y insurence `j
<br /> pvl/cy then in loree sha!l pass to the purchaser et the tiustee's sa/e or Iorec/osare sale./n case ol eny/oss,the Insurence proceeda may,at
<br /> the optlon of BeneNelary,tre epp!!ed b y Benefrclery npan Me ObHqadona,or any port thento%and In auch oider and amount es Bene�ieiary
<br /> me y dete�inine;or aeld/nsurence proeeeds,et[he opt/on of BeneTic/ary,me y elMer be used/n replaclag or restodng the Trust Aopeity :-
<br />- ' ' panie:N or tota/ly dostroyed to e conditlon seds/ectory to 8eneficlary;or sald lnsurence pmceeds,or any portlon thereol,may Ae released�o � �
<br /> , ;�;; Tiusior. LnJess Benellclary end Tiustor atherw/se ag�ee!n wdNng,any such eppI/cedon of insu�ence proaeeds shal/not extend o�postpone _-
<br /> � the due date ol any note or agreement evldencing the ObJlgadons,or eny/nsta//ments calied for theie/n,or cAange the amount ol such =_
<br />`-,i.7. ' .'1''�:: insta0menfs.ll the Trust Propeity!s acpuired by Beno�clary pursuent to the exe�cise ol the power o1 sa/e oi olher loreclosuie,alI rlght tif/e �-
<br /> - � ���;/�`. and interest o/Tiustor!n and to any insarance proceeds/leyab/e as a resu/t o/damage to Me Tiust Properry prior[o the sale or acqu/sition
<br /> � sha//pass to Beneficiary and sAal/tre appfled fiist to the caats and expenses,lncfuding ettomeys'/ees,incumed!n collecting such proceeda,
<br /> • . ' � '• then in the manner and in the oider proWded herein.Notwlthateading anythlag eontalaed!n thls Secdon to tAe ton[rary,il thls Deed ol Tiust
<br />- ' � `�'" is on e condominlum or e town house Bnd therela a maste►insurence poNcyln/orce tovering the common ereas and/ecilitles end al!
<br /> , ' ' ' condominfunrs end town houses locatad/n lhat deve%pmen4 Men,uMess othenvlse nodAed/n wdting by the Benellc/ary,the Tivstor shatl
<br /> ••�� �%�7st.,.' '�.: i have eo obllgadon to malnteln the iasurance required hereunder,an�l wll/easlgn e/I benenta and proceeds iecelved rhereon to Me Benellciary —__
<br /> :�;�i�+'+�=:°i:-• >,:` end,ln the Beneflciary's so%discretion,name tAe BeneNclary es tha named lnsuied on sald poNcy. Whenevei such lnaurance!s!n/orce -;__
<br /> r�•!•••!•>��� ' fiegardless of whether requested b y the Benenclary or aotl ohe Tiustor horeDy aathorfzas tho BenaTidary to cancel auch lnsurance whenever --
<br /> �' ���'�'`" '�" the Berreflciery determines that such Insurence does nof adequate
<br /> „p• !y protect the BeneNclary's lnteiest. - _
<br /> 1 , �' 8. Pieaorvadon end lVlaintenance of Tinat PropoAy. Trustor w/1l keep the bu//dinga and other ImprovemeMS now o�heiealter ereeted on the �
<br />- ; ' 7iust Properryin good repe!r and cond/Non,oM/nary depietlation exeepted,end ahall provlde a!/uU/ity serv/ces necessary lor the opaiation ��-�'=
<br /> ;%,��;,.��� and preservation o1 the Truat Property. 7rostor wlll not commit or pennit waste,wlll not elter the deslgn or structura/character constiwting =
<br /> _ s��.,, an y bul/dlnp now or herea/ter ei+ected on end conatituting Me Tivst Property wlMout the pdor written consent o/Bene/!clary,will not do eny ,�"�`:
<br />_ � •�'•�°• act or rhing wNch wou/d unduly imparr or deprec/ate the va/ue of the Tiust Property and wll/not ebendo»the Tiust Property. Tiustor wid not '
<br /> .E,y.t•;. �.:
<br />- ..i�•. remove any flxtures constituting the 7reist Properfy un/ess the same ere immediatety replacsd with/ike prOperty sub/ett to the/ien end
<br /> secunry interest ol this Deed of Tiast and of at leest equel velue end uNlity Trustor wlll comply with e//preaent and/uture ordinances,
<br /> �eguledons end iequlrements of eny govemmentel body wAlch are applfceb/e to Me Tiust Property and to tAe octupancy and use thereof.I►
<br /> thla Deed ot Trust Is on a un/t!n a condom/nlum or e planned unit development Trostor sAal/per/on»ell ol Truator s obligallons under the " .
<br /> - dec/a�ations o�covenanta creatlng or goveming the condomin/um oi the p/anned unit development tho bylaws and regulations o/the
<br /> condominfum or p/anned unit development and Me tonstf�uent documenta.
<br />° ----�=i�_:--._,_---_ 9 /naancNon Benelic/arv orlts enents mav.et aN ieasonab/e timea.entei uaon tAe Tnrst P�nnertv for the aurnose o/lnsoeetron ineludina. ----•
<br /> • ;.��'. but not//mlted ro envlronme»tel testing.BeneBciary ahal/have no duty to make sucA/nspection and ahal/not be Nable to trustoi o�ro en y
<br /> � �� "t:� , peraon!n possession!l!t mekes or Iaila to make ar+p such 7nspectlan. �
<br />� f0. ProtecNan ol Secudfy. /1 Tiustor fai/s to peNorm enyo/tAe eovenants and egieements contafned ln th/s�aed ol TiusL or il any act;o�
<br /> - or proceeding is commenced wh/ch does or may edl�ersely aHect the Tiust Property or the lnterest o/Trusror o�Beneliclary therein or the
<br /> title ol Tiustoi thereto,Men Bene�iolary,et its optlon,may perfam such covenants end egreements,make such app8a�ances,defend agemst
<br /> • end/or invest/gate such ectlon or prxeeding snd teke sucA other ectlon as Bene�ciery deems necessery to proteet its lnte�est rncluding, but
<br /> not limited to,d;sbursement ot reesonable attomeys'lees snd entry upon tAe Tiust Property lo make repaiis.Any amounta d;sDursed o�
<br />_ incurred Dy Beneficiary pursuant to M/s SecNon,Including,but not/imlted%reasonab/e attomeys'lees, w/M Jnterest thereon,shall
<br /> - cons6rure add�rional Ob/igatlons secured by this Deed o1 Trust.Benefrc/ary ls hereby given an lrrevocaDle powo�ol atromey fwhicA power�s
<br /> coupled with an interest for purposes o/Secudty/ro enterupon the Tiust Properry es the Trusror's agenf and in the Trostor's name to
<br /> � . perlorm any end alf covenants end agieements to be peMormed Dy tAe Tiustnr es herein pmv/ded. UMess 7rustor end Bene/iciary egree to
<br /> other terms o!pa yment,auch emounts sha//be payab/e upon notice lrom Beneficlary to Trustor requesHng payment thereo%and shall bear
<br /> interest Iro�»the date ot disburaement or the date/ncumed at tAe rate set Ioith!n tAe Note or the iete provlded in Me most recent oblrgaNOn
<br /> covered bY rhe Guaranty,un/ess payment of lnterest et such rate would be conNery to epplice4le/aw in wAicA event such emounts sha/l �
<br /> bear inter�at at rh.e highest rare permitted by applicab/e law.Nothing conteined in tAls pe�agraph ahall iepulre Beneliciary to incu�eny
<br /> expense or teAe eny octlon hereunder.Benefielary shal/,etlts opHon,be subrogated to anv encumbrance,lien,claim or demand and to a/I
<br /> - �-'� - _ ;�-"} nghts and setudties Ior the payment tAereot paid or discRa�ped by Benerciary under the pmvislons hereof and any such subrogatron nghA - -
<br /> ; shal/be edditiona/and eumu/ative seeudty lor this Deed o/Tiust. Page 2 oI 6
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